Metro's US titles facing closure

Metro International may have to sell off or close its US titles, starting with the loss-making New York issue. Chief executive Per Mikael Jensen said: "What we have been doing in the US is to look at all options. That means going into partnership with others or divesting." The news comes as ad sales slump across America.

Metro opened in Philadelphia in 2000, Boston in 2001 and New York in 2004. But all three are now under review, said Jensen, who thinks the US media market is "completely crazy".

In July, the Luxembourg-based company announced a net loss of £1.5m for the second quarter, with Spain and the US accounting for most of the losses. (Via Sunday Times)